The Wii was a wildly popular home video game console released by Nintendo. The Wii system was first available in the United States in November, 2006 and sold more than 30 million units as of August 2010. The Wii retails for $199. Suppose Ahmed was willing to pay $230, Lana is willing to pay $175, and Bodie is willing to pay $300 for a Wii. Who will purchase a Wii?
A) Ahmed and Bodie
B) Ahmed
C) Lana
D) Ahmed, Bodie, and Lana

Question

Quizplus · Accepted Answer

Ahmed and Bodie will purchase a Wii because their willingness to pay ($230 and $300, respectively) is greater than the retail price of $199. Lana will not purchase because her willingness to pay ($175) is less than the retail price.

The Wii Was a Wildly Popular Home Video Game Console